Of late, the global market for hemophilia treatment drugs has been displaying a positive movement in market valuation. With the market catering to a number of hemophilia types, such as hemophilia A, hemophilia B, hemophilia C, and acquired hemophilia, a significant expansion in its size is on the horizon.

According to Transparency Market Research (TMR), the worldwide market for hemophilia treatment drugs is likely to increase its opportunity from US$15.8 bn in 2015 to US$25.1 bn by 2024, expanding at a CAGR of 5.40% between 2016 and 2024.

In this blog post, researchers at TMR are answering to some of the important queries about the global hemophilia treatment drugs market:

What are the key factors behind the growth of the global hemophilia treatment drugs market?

The market for hemophilia treatment drugs has gained significant momentum across the world, thanks to the rising awareness among consumers pertaining to hemophilia and the continual advent of innovative methods of managing this disorder. The launch of a number of blockbuster drugs has also boosted this market significantly in the recent times and are projected to keep contributing actively to the revenue generated in this market over the next few years.

The FDA approvals for the clinical trials to launch novel blockbuster treatments and the easy availability of promising drugs, commercially, are also anticipated to drive the market’s growth in the near future.

How are the regional markets for hemophilia treatment drugs performing?

In terms of geography, the worldwide market for hemophilia treatment drugs reports its presence across North America, the Middle East and Africa, Europe, Latin America, and Asia Pacific. Of these, North America has acquired the leading position and is projected to retain it over the forthcoming years, thanks to the presence of a well-established healthcare infrastructure. The U.S. is expected to surface as the key domestic market for hemophilia treatment drugs in this region in the near future.

Europe, which holds the second position in the global market, is anticipated to lose some shares to Asia Pacific in the years to come on the grounds of patent cliff among several key drugmakers. Asia Pacific, on the other hand, is expected to emerge as a promising market for hemophilia treatment drugs over the next few years, owing to unmet medical needs.

What does the competitive landscape of the global market for hemophilia treatment drugs signifies about it?

The global hemophilia treatment drugs market demonstrates an extremely consolidated competitive landscape, with a few players holding the lion’s share. In 2015, the top three players, namely, Novo Nordisk A/S, Shire Plc., and Pfizer Inc., held nearly 50% of the overall market.

These companies are mainly focusing on expanding their geographical presence across various regions. Mergers, acquisitions, and alliances are likely to surface as the main strategy among the leading players, seeking to improve their product portfolio and enhance their research and development base in the years to come.